Nucleus Business Cash Advance
- Borrow £3,000 to £150,000
- Same day funding available
- Repay only when your customers pay you
If you have a PayPal business account and use it to accept card payments online or in person, you may be able to also get funding for your business through it. PayPal Working Capital’s business loans take the form of merchant cash advances, which means you pay the loan back as a percentage of your PayPal sales.
It isn’t necessarily the cheapest type of business finance, but it allows great flexibility by avoiding fixed monthly payments. Instead, the repayment amount depends on how much you make, so if you have some difficult months during which your sales are a bit stagnant, you’ll pay less. The cost of the loan is fixed and isn’t influenced by how long it takes you to pay it back.
You can easily apply online and the application process is based on your past PayPal account activity, so you won’t need to put together a huge folder full of documents. You can use the loan to consolidate your business, take it to the next level or face an unexpected expense, and it’s more suitable to businesses whose cash flow is irregular or unpredictable.
Eligibility criteria to be able to apply for Paypal Working Capital include the following:
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